Hongli Group Inc. (NASDAQ:HLP) Short Interest Update

Hongli Group Inc. (NASDAQ:HLP) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 7,543 shares, a drop of 59.1% from the February 26th total of 18,436 shares. Based on an average daily volume of 66,320 shares, the days-to-cover ratio is currently 0.1 days.

Hongli Group Trading Up 2.4%

NASDAQ HLP opened at $0.98 on Friday. The business’s 50 day moving average is $1.00 and its two-hundred day moving average is $1.19. Hongli Group has a 12-month low of $0.61 and a 12-month high of $1.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Hongli Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of Hongli Group

A hedge fund recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. bought a new position in shares of Hongli Group Inc. (NASDAQ:HLP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,154 shares of the company’s stock, valued at approximately $27,000.

About Hongli Group

Hongli Group (NASDAQ: HLP) is a China-based manufacturer specializing in high-performance polyethylene separator membranes for lithium-ion batteries. The company develops, produces and distributes microporous membrane products designed to enhance battery safety, efficiency and life span. Its core separators find application in electric vehicles, consumer electronics, energy storage systems and power tools.

Leveraging in-house research and development capabilities, Hongli Group continually refines its production processes and membrane formulations.